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Nigeria

Despite a 50 year oil boom which has transformed Nigeria’s economy into the largest in Africa, 80 per cent of its citizens live on less than $2 a day. Lanjutkan membaca

Despite a 50 year
oil boom which has transformed Nigeria’s economy into the largest in Africa,
80% of its citizens live on less than $2 a day.

An estimated
$400bn in oil revenues has gone missing from Nigerian state coffers. This is
why Global Witness is campaigning for oil deals to be made in the open, so the
profits can be used to build schools and hospitals instead of lining the
pockets of kleptocratic elites.

$1.1 billion can
help a lot of people in a country like Nigeria – see the infographic below for more information. But the Nigerian people
saw none of this money, as it was diverted to Etete and a string of middlemen
and anonymous companies. Shell and Eni said that they only dealt with the
Nigerian government, but court documents suggest otherwise.

Global Witness
has also shown how western corporations are often complicit in facilitating
corruption in Nigeria. In 2010, we revealed how British banks, such as
Barclays, Natwest and RBS, accepted millions of pounds in deposits from corrupt
Nigerian politicians, raising serious questions about their commitment to
tackling financial crime.

While companies
like Shell are fighting to keep their oil deals secret, the status quo is
shifting towards transparency. New laws in the EU and the US will force
companies to publish their payments in deals for blocks like OPL 245.
Meanwhile, the Extractive Industries Transparency Initiative (EITI) is making
companies disclose their payments to governments and governments open their
books to public scrutiny.

Nigeria was one of the first members EITI, and has made some headway in seeking accountability for
missing revenues. However, while the owners of companies involved in deals
remain hidden and project level payments undisclosed, Nigeria continues to
remain highly vulnerable to corruption.

Global Witness is
pushing for accountability by holding those involved in
corrupt deals responsible, so that the people of Nigeria finally see the full benefits
of their oil wealth.